Shareholders Celebrate as Zenith Bank, FCMB Announce Over N100bn Dividend Payout After Impressive 2022
- Zenith Bank Plc has approved its highest-ever dividend payment after an outstanding financial year
- Similarly, FCMB will reward its shareholders with N5 billion as the total dividend payment
- The banks' decision comes after recording a solid performance in the 2022 financial year
Zenith Bank Plc and FCMB Group Plc have rewarded their shareholders with impressive dividend payments following their outstanding financial performance in 2022.
During Zenith Bank's Annual General Meeting (AGM) held virtually in Lagos, management approved a record-breaking dividend payment of N100.47 billion.
This marks the highest-ever dividend payment approved by the bank since its establishment 33 years ago.
Details show each shareholder will get N2.90 per share, bringing the total dividend for the year to N3.20 per share.
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Zenith Bank chairman's reaction
In his opening statement at the AGM, Jim Ovia, the founder and chairman of the bank, expressed his gratitude to the shareholders for their unwavering loyalty, commitment, and support, which have been instrumental in the bank's outstanding performance since its inception.
Also, Ebenezer Onyeagwu, the group managing director and chief executive officer, highlighted the bank's determination to maintain its growth trajectory in the coming years, emphasising digital and retail banking.
An overview of Zenith Bank's financial results for 2022
- Gross earnings: NGN945.5 billion (24% increase from NGN765.6 billion in 2021)
- Profit before tax: NGN284.7 billion (2% increase from NGN280.4 billion in 2021)
- Customer deposits: NGN8.98 trillion (39% increase from NGN6.47 trillion in 2021)
- Total assets: NGN12.29 trillion (30% increase from NGN9.45 trillion in 2021)
FCMB dividend payment
Similarly, FCMB Group announced that its shareholders would be paid N5 billion as dividends on their investment for the financial year ending December 31, 2022.
Shareholders unanimously approved a dividend payout of 25 kobo per ordinary share for the year, as against 20 kobo per share the previous year, Dailytrust reports.
The group's performance for the year showed a 61% growth in Profit Before Tax (PBT) to N36.6 billion, with a 33.5% growth in gross revenue to N283 billion.
Access Bank CEO Wigwe buys over N11.3bn new shares
Meanwhile, in another report, Access Holdings CEO Herbert Wigwe has cemented his place as one of the most significant shareholders
The bank revealed that he paid over N11 billion to buy more shares in the financial institution.
Wigwe is one of Nigeria's highest-paid CEO and received huge compensation for his excellent work after an impressive year.
Source: Legit.ng
